Equities up after mixed session on Wall Street - 30.3.2021

Senior Analyst

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Todays’ Market Summary

The Dollar strengthening continues currently
Futures on three main US stock indexes are mixed currently
Gold prices are pulling back today

Top daily news

Stock markets are mostly rebounding currently following a mixed session on Monday while US 10-year Treasury yields ticked up to 1.744%. Tesla stocks closed down 1.2%, Facebook shares gained 2.76% outperforming market amid reports Facebook and Google plan two new undersea cables to directly connect South East Asia to North America.

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Forex news

The Dollar strengthening continues currently . The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.2% Monday.

Both EUR/USD and GBP/USD reversed their climbing Monday as Bank of England reported UK mortgage approvals fell more than expected in February. Both euro and Pound are lower currently against the Dollar. AUD/USD reversed its rising while USD/JPY continued its climbing yesterday with both Australian dollar and yen higher against the greenback currently.

Stock Market news

Futures on three main US stock indexes are mixed currently ahead of the Conference Board consumer confidence report at 16:00 CET today. The three US main stock benchmarks ended mixed Monday recording returns ranging from -0.6% to 0.3% as bank shares fell after news US hedge fund Archegos Capital defaulted on $30 billion margin call. Nomura and Credit Suisse are facing billions of dollars in losses as a result.

European stock indexes are higher currently after ending mostly higher yesterday led by food and beverages shares while financial stocks took a beating. Asian indexes are mostly higher today with Hong Kong’s Heng Seng Index leading gains.

Commodity Market news

Brent is edging lower ahead of data from the American Petroleum Institute later today. Prices closed higher Monday amid reports that Russia would support stable oil output from OPEC+ ahead of a meeting with the producer group later this week. The US oil benchmark West Texas Intermediate (WTI) lost 0.2%. Brent added 0.1% to $64.62 a barrel on Monday.